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Ethereum (ETH) reached $4,200 on Saturday morning with a 7% rise after breaking the $4,000 resistance on Friday. This was recorded as the highest value seen since December 2021. In this rise, the role of $207 million in position liquidations and increasing trading volume was significant.
Crypto analyst Miles Deutscher described these mandatory purchases as a factor accelerating the rally, noting that the price increase could lead investors to riskier and smaller tokens. Deutscher stated that he anticipates a three-phase market transition in the coming days: a brief altcoin season led by ETH, followed by a Bitcoin-centered rise, and finally a possible peak rally again with ETH and altcoins. #ETH Breaks $4,300#